Uber reported its first financial results since going public: a net loss of more than $1 billion

Views:3     Author:Site Editor     Publish Time: 2019-05-31      Origin:Site

    Ride-hailing company Uber reported its first financial results since going public on Thursday.Uber had revenue of $3.1 billion in the first quarter ended March 31, 2019, up 20% from $2.58 billion in the same period last year.The net loss attributable to the company was $1.01 billion, in line with analysts' expectations but down from a net profit of $3.75 billion a year earlier.

    Uber had 93 million monthly active users in the first quarter, up 33% from 70 million in the fourth quarter.Trips were 1.55 billion, up 36 percent from 1.14 billion in the same period last year.Uber shares barely budged after the results, but rose more than 3 percent during a conference call between executives and analysts.Over the phone in the conference room, they discussed Uber's enormous growth potential and how it can compete with Lyft without increasing its spending.


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